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Topic: Dollar diplomacy

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	washingtonpost.com: Dollar Diplomacy
		Since the last G-7 meeting in September, the dollar has lost 10 percent of its value against the euro and 7 percent against the yen; the Europeans and Japanese worry that, as their firms' competitive edge is eroded, weak economic recoveries will be strangled.
		But the dollar probably can't be propped up by official intervention, at least not more than temporarily; nor, for that matter, should it be.
		A gradually falling dollar, which narrows the U.S. current account deficit and slows the accumulation of debt to foreigners, is a good thing, not a bad one.
	www.washingtonpost.com /ac2/wp-dyn/A20471-2004Feb6?language=printer (579 words)

	The End of Dollar Hegemony
		The pressure on the dollar in the 1970s, in spite of the benefits accrued to it, reflected reckless budget deficits and monetary inflation during the 1960s.
		Once again the dollar was rescued, and this ushered in the age of true dollar hegemony lasting from the early 1980s to the present.
		The dollar’s importance is obvious, but this does not diminish the influence of the distinct plans laid out years ago by the neo-conservatives to remake the Middle East.
	www.informationclearinghouse.info /article11946.htm (4404 words)

	WILLIAM HOWARD TAFT: Dollar Diplomacy
		The intellectual, financial, and industrial interests of the country and the publicist, the wage earner, the farmer, and citizen of whatever occupation must cooperate in a spirit of high patriotism to promote that national solidarity which is indispensable to national efficiency and to the attainment of national ideals.
		The diplomacy of the United States is active in seeking to assuage the remaining ill feeling between this country and the Republic of Colombia.
		The recent task of our diplomacy has been to adjust those principles to the conditions of today, to develop their corollaries, to find practical applications of the old principles expanded to meet new situations.
	www.mtholyoke.edu /acad/intrel/taft2.htm (1808 words)

	Dollar Diplomacy in the New Millennium
		Moreover, with the dollar’s continued decline in the past few weeks, many economists are now raising their GDP forecasts for the fourth quarter as well as for all of 2005.
		The yuan is pegged artificially to the dollar.
		As such, by brilliantly orchestrating this dollar decline, America has not only seen its exports explode, but we have also pushed Europe into a corner whereby they are likely now compelled to join us in forcing China to finally revalue their currency and hopefully allow it to float against all foreign exchange rates.
	www.michnews.com /cgi-bin/artman/exec/view.cgi/88/6036/printer (1367 words)

	Dollar hegemony - Wikipedia, the free encyclopedia
		Dollar hegemony is the term coined by Henry C.K. Liu in a widely circulated and quoted article "Dollar Hegemony has to go" in Asia Times on April 11, 2002 that describes the special relationship that the US dollar has to the global economy.
		Jean Gabriel's book "The Dollar Hegemony: Dollar, Dollarization, and Progress" published in 2000 deals with the process of dollarization, and in that respect is quite apart from the way Liu uses the term dollar hegemony, which is the way the term is now commonly used.
		Dollar hegemony as the term is used by Liu specifically describes a geopolitical phenomenon of the 1990s in which the US dollar, a fiat currency, assumes the status of primary reserve currency in the international finance architecture.
	en.wikipedia.org /wiki/Dollar_hegemony (445 words)

	TAP: Web Feature: Dollar Diplomacy. by Robert B. Reich. October 15, 2003. (Site not responding. Last check: 2007-11-06)
		For years now, the official Washington line was that the dollar should be strong and its value should be stable.
		The idea was that a strong, stable dollar was good for the global economy and good for America.
		If the dollar drops too much and too fast, the prices of everything we buy from the rest of the world will soar.
	www.prospect.org /webfeatures/2003/10/reich-r-10-15.html (457 words)

	Foreign Policy: Cheap Dollar Diplomacy
		Recently, the dollar hit a four-year low in its value against the euro; most experts believe the greenback will not regain its strength for some time.
		The most immediate consequence of a weaker dollar is that Europe will be flooded by U.S. exports, and the United States will see a surge of European tourists whose apprehensions about President George W. Bush’s unilateralism will be tempered by increasingly cheap opportunities to take the children to Walt Disney World.
		The reforms imply such wrenching social and political rearrangements that Europe may be tempted to combat the effects of a cheaper U.S. dollar by retreating behind subsidies and protectionist barriers.
	www.foreignpolicy.com /story/cms.php?story_id=111 (1002 words)

	GoldMoney - Founder's Commentary
		It looks to me like the rush to exit out of the dollar is overwhelming the US Treasury's attempts to keep the dollar on an even keel before the November 7th election.
		Too many dollars are being created as a result of the growing mountain of debt in the States.
		And central banks and investors around the world are diversifying out of the dollar in favor of assets representing better value -- assets like gold and silver, which have a time-tested record of providing a safe haven from inflation and other types of monetary turmoil.
	www.goldmoney.com /en/commentary.php (1026 words)

	Dollar Hegemony (Site not responding. Last check: 2007-11-06)
		The pressure at home to inflate the currency comes from the corporate welfare recipients, as well as those who demand handouts as compensation for their needs and perceived injuries by others. In both cases personal responsibility for one's actions is rejected.
		Once again the dollar was rescued, and this ushered in the age of true dollar hegemony lasting from the early 1980s to the present. With tremendous cooperation coming from the central banks and international commercial banks, the dollar was accepted as if it were gold.
		the dollar system - to respond as if it were gold. Each time I strongly disagreed, and pointed out that if they had achieved such a feat they would have defied centuries of economic history regarding the need for money to be something of real value. He smugly and confidently concurred with this.
	www.happythoughtlifestyles.com /DollarHegemony1.html (805 words)

	The End of Dollar Hegemony by Ron Paul
		But the world was content to accept those dollars for more than 25 years with little question – until the French and others in the late 1960s demanded we fulfill our promise to pay one ounce of gold for each $35 they delivered to the U.S. Treasury.
		It sounds like a great deal for everyone, except the time will come when our dollars – due to their depreciation – will be received less enthusiastically or even be rejected by foreign countries.
		Now, more than ever, the dollar hegemony – it’s dominance as the world reserve currency – is required to finance our huge war expenditures.
	www.lewrockwell.com /paul/paul303.html?refer_id=JoeGalaxy.NET (4393 words)

	The End Of Dollar Hegemony, Part II
		Dollar Diplomacy: The End Of Dollar Hegemony, Part II by Hon.
		The U.S. dollar dominance is coming to an end...and when this Dollar Diplomacy concludes, wealth and political stability will be lost.
		The protectionists measures mean that dollar assets are not going to be as attractive to investors abroad – and that means bad things for the US dollar and the health of the economy.
	www.dailyreckoning.com /Issues/2006/DRUS022306.html (4332 words)

	The End of Dollar Hegemony
		A hundred years ago it was called “dollar diplomacy.” After World War II, and especially after the fall of the
		“Dollar Diplomacy,” a policy instituted by William Howard Taft and his Secretary of State Philander C. Knox, was designed to enhance
		The dollar’s importance is obvious, but this does not diminish the influence of the distinct plans laid out years ago by the neo-conservatives to remake the
	afgen.com /dollar_hegemony.html (4191 words)

	Euro-dollar diplomacy and Pakistan -DAWN - Business; March 3, 2003
		No doubt, the Americans gave us debt write-offs of about a billion dollars but there were no trade concessions despite three delegations led by the US officials for this purpose.
		As a consequence, towels, bed-sheets, and trousers—costing millions of dollars- exported in late 2002 were stranded at EU ports and the EU customs refused to clear them.
		That the US can go on running billions of dollars trade deficit year after year is because the rest of the world considers the dollar a safe reserve.
	www.dawn.com /2003/03/03/ebr16.htm (959 words)

	Dollar Diplomacy: U.S. Embassy funds anti-independence propaganda \| Pridnestrovie.net - Tiraspol, PMR: Pridnestrovskaia ... (Site not responding. Last check: 2007-11-06)
		Uncover the financing of anti-independence slurs against Pridnestrovie and you will uncover the meddling hand of dollar diplomacy: The U.S. Embassy in Chisinau issues American government grants which undermine the hard nation-building work of Pridnestrovie's democratically elected government.
		For over a decade, U.S. taxpayers' money has been flowing to groups in Moldova whose main purpose is to turn back the clock on the freedom that the people of Pridnestrovie fought so hard for.
		Citizen groups in Tiraspol denounce the one sided flow of dollars aimed at undermining the work of Pridnestrovie's democratically elected government.
	www.pridnestrovie.net /dollardiplomacy.html (1071 words)

	Dollar diplomacy - The Manufacturer.com - Promoting best practices in manufacturing (Site not responding. Last check: 2007-11-06)
		In today’s world of variable debt, a spike in short- and medium-term rates induced by a pull-back of foreign investment in the US market (a result of the dollar’s steep decline in value in their own currencies) could be the trigger.
		The problem with this strategy is that it is not sufficient to reduce the trade deficit to a manageable level.
		The dollar’s reserve currency status has allowed US consumers (and companies) to buy without the obligation to sell real goods in overseas markets.
	www.themanufacturer.com /us/detail.html?contents_id=3017 (643 words)

	Taft on Dollar Diplomacy - Sidebar - MSN Encarta
		In 1912, in his final address to Congress, United States president William Howard Taft argued that American capital should be the primary means to develop foreign markets and military intervention should be a last resort.
		“Substituting dollars for bullets” was a more humanitarian way of protecting and developing foreign commerce, Taft declared.
		Quickly dubbed “dollar diplomacy,” this strategy, along with two other American foreign policy initiatives, the Platt Amendment and the Roosevelt Corollary, expanded American influence in Latin America.
	encarta.msn.com /sidebar_761594592/Taft_on_Dollar_Diplomacy.html (139 words)

	Dollar Diplomacy
		Knox felt that not only was the goal of diplomacy to improve financial opportunities, but also to use private capital to further U.S. interests overseas.
		"Dollar diplomacy" was evident in extensive U.S. interventions in the Caribbean and Central America, especially in measures undertaken to safeguard American financial interests in the region.
		In spite of successes, "dollar diplomacy" failed to counteract economic instability and the tide of revolution in places like Mexico, the Dominican Republic, Nicaragua, and China.
	www.state.gov /r/pa/ho/time/gp/16324.htm (184 words)

	The End of Dollar Hegemony \| EnergyBulletin.net \| Peak Oil News Clearinghouse
		Association for the Study of Peak Oil (ASPO) founder Colin Campbell wrote an article with the same title as Rep. Paul in his November 2004 newsletter.
		The phrase Dollar Hegemony was coined by economist Henry C K Liu in 2002.
		Ron Paul is a Republican Congressman who has been a very vocal opponent of his own party's current leadership, the neoconservatives.
	www.energybulletin.net /12987.html (4766 words)

	Online NewsHour: Dollar Diplomacy -- September 3, 2003
		The dollar has, in fact, come down about 30 percent against the Euro and therefore the European countries over the last couple of years, but it hasn't budged at all against China.
		So when the dollar comes down against the Europeans and others, the Chinese currency comes down with it, actually increasing their price competitiveness, strengthening their trade position, making them an even tougher competitor.
		That would be a revaluation of 20-25 percent -- they could keep the fixed exchange rate -- not subject themselves to the vagaries of the capital market but put the price of their currency at a level that would more accurately reflect their economy.
	www.pbs.org /newshour/bb/economy/july-dec03/china_09-03.html (1650 words)

	Dollar Diplomacy
		The Middle Kingdom alone is expected to have more than $1 trillion in foreign reserves by the end of this year - and they spend it on new plants and equipment.
		Two and a half trillion dollars in debt has been added to the federal government’s burden during the George W. Bush years; no president in American history has ever done more damage to the nation’s finances.
		It is debt that will be carried forward, refinanced, and refinanced again...so that generations not yet in the womb will be shackled to millions of dollars worth of it before they even begin to toddle.
	news.goldseek.com /DailyReckoning/1140637459.php (4324 words)

	Dollar Diplomacy
		Instead, her Commissioner of Education would draw up a list of core curriculum requirements—things that every student ought to learn in school—and then assign a price tag to these requirements and guarantee that every student in the state would receive that amount in school funding as a minimum.
		The dollar figure was totally arbitrary and below what many wealthy districts were already spending on their children.
		So Whitman was hoping that the Court would accept the claim that as long as all schools had the same core curriculum on paper, they didn’t need equal funding.
	www.zmag.org /ZMag/articles/shalomjuly97.html (6188 words)

	Commentary Magazine - Dollar Diplomacy Returns (Site not responding. Last check: 2007-11-06)
		...The "realist" case for commercial diplomacy, however, is the weakest justification of all...
		...Specifically, the new dollar diplomacy is said to accomplish three things: [52] * v * L}DOLLAR DIPLOMACY RETURNS enhance international security and lessen the likelihood of conflict...
		...By definition, the primary aim of commercial diplomacy is not liberty but prosperity-a fine and important thing, but hardly a cause for which Americans should ever be asked to fight and die...
	www.commentarymagazine.com /Summaries/V105I2P54-1.htm (2066 words)

	Dollar Diplomacy - Global Policy Forum - Social and Economic Policy (Site not responding. Last check: 2007-11-06)
		After taking a hard look at the poker game being played by George W. Bush and Saddam Hussein, Turkey, in effect, told President Bush this week to ante up $32 billion if he wants Ankara to take a seat at the table.
		The 1991 Gulf War cost Turkey billions of dollars in lost trade, shut down a lucrative oil pipeline and left Ankara temporarily sheltering a million Iraqi Kurdish refugees.
		Washington's bargaining with Ankara also has a Kurdish dimension, and it is a rather cynical one.
	www.globalpolicy.org /socecon/ffd/2003/0221diplomacy.htm (614 words)

	Dollar diplomacy: US undermines initiative to provide poor countries with access to AIDS antiretrovirals New ...
		Dollar diplomacy: US undermines initiative to provide poor countries with access to AIDS antiretrovirals New Internationalist - Find Articles
		Dollar diplomacy: US undermines initiative to provide poor countries with access to AIDS antiretrovirals
		In May 2003, the World Health Organization (WHO) announced that it would provide the technical and organizational support to provide three million people in poor countries with antiretroviral treatment by the year 2005.
	www.findarticles.com /p/articles/mi_m0JQP/is_367/ai_n6066181 (658 words)

	Feb 18, 2006 The End of Dollar Hegemony Rep. Ron Paul 321gold
		Feb 18, 2006 The End of Dollar Hegemony Rep. Ron Paul 321gold
		A hundred years ago it was called "dollar diplomacy." After World War II, and especially after the fall of the Soviet Union in 1989, that policy evolved into "dollar hegemony." But after all these many years of great success, our dollar dominance is coming to an end.
		Any attack on this relationship will be forcefully challenged-as it already has been.
	www.321gold.com /editorials/paul/paul021806.html (4356 words)

	Misdirected dollar diplomacy - CubaMania Cuba Forums
		Castro is richer by several hundred million dollars, and the fortunes of Cubans on either side of the Florida Straits - the folks the policy was supposed to help - are that much worse.
		In addition to having remittances from the United States cut to $1,200 a year, Cubans on the island will have to pay $120 of that in fees to the government to buy their chavitos.
		In other words, replace the useless contraptions of embargoes, restrictions and regulations with what America preaches to the rest of the world - free trade and freedom of movement.
	www.cubamania.com /cuba/showthread.php?t=7007 (402 words)

	Boffoblog: Dollar Diplomacy (Site not responding. Last check: 2007-11-06)
		Now that figures are rolling in about the reserves at central banks, we see a similar story playing there, though with some fascinating variations.
		Sure, Europe, Japan and China are the big players who will ultimately have the greatest say over how far the dollar falls.
		Nevertheless, when the general trend among the smaller central banks surveyed by the Financial Times show that, at the margins, they are purchasing euros rather than dollars, as Setser says, it shows we are inching ever close to a tipping point.
	boffo.typepad.com /boffoblog/2005/01/dollar_diplomac.html (450 words)

	Dollar Diplomacy in the New Millennium (Site not responding. Last check: 2007-11-06)
		We find the most intriguing information and bring it together on one page for you.
		With the advent of floating exchange rates, and the current level of globalization facing our economy, it appears that a great-grandson of President Taft's Dollar Diplomacy has emerged.
		As such, it shouldn’t be a surprise that the dollar began to plummet -- maybe exactly as Mr.
	www.intellectualconservative.com /article3998.html (1425 words)

	BW Online \| March 10, 2003 \| Dollar Diplomacy
		As George W. Bush approaches the diplomatic climax of his arduous drive to win backing for war with Iraq, U.S. diplomats increasingly find themselves tempted to brandish Uncle Sam's checkbook--and with it, the suggestion that sticking with America now might mean rewards later.
		For two years, Administration diplomacy has been marked by a brash Texas swagger that Bush partisans consider a refreshing exercise in plain-speaking--and which some traditional allies consider arrogance.
		It's still far from clear whether dollar diplomacy will give Uncle Sam a clear-cut victory in the U.N. But even without an affirmative vote, Bush seems intent on going ahead with plans to attack Saddam by late March.
	www.businessweek.com /magazine/content/03_10/b3823043.htm (1708 words)

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